Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1887-01-12
Labor
The State Treasury.

State Treasurer Burleigh 8 report of the
condition OF the Treasury at the close of
the year 1896, is one of the most crafty
ing reports ever issued from that depart
men.. A year ago we called attention to
the very satisfactory condition of the
treasury at that time. showing the reduc-
ton Of the State debt going along with
reduction of State taxation, and yet a
handsome balance in the treasury at the
close of 1885. This year we find a
similar state of things existing. but in
larger degree. The State debt has been
largely reduced the past year. a large re-
duction of State taxation is again possible
and recommended. good balance is in
the treasury. and order, accuracy, homes
ty and ability are found to prevail in all
the affairs of this very important depart
ment of the government of the State.
An abstract OF the Treasurer's report
will be found elsewhere in the columns of
the Journal which will show the receipts,
expenditures, and other transactions of the
year, together with the condition OF the
debt and the sinking fund. 1t will be
seen that the State debt has been
reduced during the year past
including what was paid into the
sinking iund-$209, IL. l6. The total net
bonded debt of the State, after deducting
bn o,pL fnpI at itS nj RI ua1 l.
ne is 81, 799 $40. a. The last legislature
authorized the Treasurer to procure tenn
porary loan of $500, 900 for the year 1886.
but he has not borrowed a dollar as au-
thorized, has paid every demand against
the State. Including what was paid Tor
the reduction of the debt--from the ordi-
the treasury cash balance OF S3lS, SOL 40.
These figures speak torcibly in favor OF
State Treasurer Burleigh. Now Mr. Bur
leigh presents the proposition to the legis-
lature to do away with the present sinking
fund. refund the debt which will be lett
after the amount of the sinking fund is de-
uutitu. anu tltutl tSltDlfoil u lith SiAiNtb-S
fund for the redemption of the bonded
debt. or in retundng the debt make the
bonds payable in equal parts for forty
consecutive years.
When this is doue--if 1t shall be done
by the egislature-the State tax may be
reduced largely. thus relieving the tax
s. ~ tho on
which they have been obliged to
carry. OF course the legislature
will be pleased to embrace the opportuni.
ty TO reduce taxation as suggested. The
war cast heavy load upon the State. An
unavoidable debt was thrown upon the
treasury. The people and the govern
ment have done their part nobly to meet
the necessary expenditures from year to
year. Close economy has prevailed. The
treasury department has been ably and
faithfully managed during the years of
struggle with the rebellion and since the
war closed; and never with better skill,
Judgment. economy and fidelity than
have characterized the period since MIR
Burleigh became State Treasurer.
Reduction OF the State debt and reduc-
ton of taxation at the same time are the
pleasing features which MIR. Bureigh's
report exhibits. Surely this is much &c
be thankful for. and much should they
be commended who have been the agents
in directing the finances of the State tc
this happy result.